VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/31/13 -- SUJA MINERALS CORP. (OTCQB: SJML) announced today an extension of the Memorandum of Agreement (MOA) with Global Energy Innovations, Inc. ("GEI").
The terms of the MOA state that the parties will execute a definitive agreement on or before July 31, 2013. The parties have mutually agreed to extend the closing date to August 15, 2013.
Matt Reams, President and CEO of SUJA MINERALS CORP. stated, "Due to normal and ordinary time demands we found it necessary to extend the deadline in order to properly complete the joining of our two companies."
The additional time will allow both parties and their representatives to complete the review of all related documentation and the execution of the definitive agreement.
GEI is in the process of setting up its manufacturing facility which includes ordering and assembling necessary equipment to deliver the GEI X5 fuel cell power system by the end of the year.
The GEI fuel cell system provides 24-7 primary power for homes and buildings and is paramount due to very restrictive offerings from other companies with only back-up power (due to fuel restrictions) or power to one singular application (due to technology restrictions). The GEI X5 core strategy is to avoid providing a "niche" technology for a "niche" application, but rather provide a robust and scalable systems technology applicable across multiple platforms that allow high volume cost reductions and savings in design and manufacturing cost. There are currently 3 patents that protect this technology and the GEI plans for several more to be filed in the near future.
GLOBAL ENERGY INNOVATIONS INC. was founded in 2007 and is part of the fuel cell and sustainable/alternative energy industry. Global Energy spent the last 7 years testing the product and has had running prototypes with all data for over 3 years. (www.geiglobal.com)
Our new company, GEI GLOBAL ENERGY CORP. and our brand, the GEI X5, represent a revolutionary and smart, multi-fuel, clean, silent, and affordable fuel cell auxiliary electric power generation system for residential, commercial, military, and industrial electric applications. Our unique scalable modular technology allows power systems from a few kW to several hundred MW. Our power systems employ a superior technology that conserve earth's natural resources, improve people's quality of life, and assures energy security (http://GEIGLOBAL.COM).
ABOUT Suja Minerals Corp:
Suja Minerals Corp., an exploration stage company, focuses on acquiring and exploring mineral properties. The company intends to explore for dolomite and limestone. It owns an option to acquire a 100% interest in the Crawford Creek property consisting of 1 mineral claim with an area of approximately 460 acres (208.93 hectares) located in southwestern British Columbia, Canada. The company was founded in 2010 and is based in Las Vegas, Nevada.
GEI GLOBAL ENERGY CORP. will offer advanced fuel cell products. Other competing companies are General Electric (NYSE: GE) Bloom Energy http://www.bloomenergy.com/ Clear Edge Power http://www.clearedgepower.com/ Ballard Power Systems http://www.ballard.com/ FuelCell Energy Inc. http://www.fuelcellenergy.com/
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Suja Minerals Corp.
President and CEO